Hong Kong shares rose 38 points, or 0.2%, to 18,818 in early trade on Thursday after a downbeat session the previous day, helped mainly by gains in the financial and technology sectors. Traders enthusiastically responded to China's latest move to turn around its sluggish stock market by encouraging insurance funds to increase the size and proportion of their investments in Chinese A-shares, or mainland-traded companies, and equity funds. The initiative could bring in at least hundreds of billions of yuan in new capital each year from state-owned insurers, the China Securities Regulatory...
China stocks rose on Thursday, with the Shanghai Composite up 1.4% to around 3,260 and the Shenzhen Component up 0.6% to 10,290, recouping losses from earlier in the week as Beijing stepped up support for the struggling stock market. On Wednesday, China unveiled a new plan led by its top financial regulator, urging state-owned insurers to increase their investments in Chinese A-shares and equity funds, while also encouraging mutual funds to raise capital for stock investments. Wu Qing, head of the CSRC, said the plan would inject hundreds of billions of yuan in new capital each year. Earlier...
The Nikkei 225 index rose 0.2% to around 39,730, while the broader Topix index gained 0.05% to 2,738 on Thursday, marking the fourth straight session of gains for Japanese stocks. However, caution prevailed as the Bank of Japan began its two-day policy meeting. The central bank is widely expected to raise interest rates and revise its inflation forecast higher on Friday, following hawkish remarks from senior BOJ officials. Meanwhile, data showed that Japan's exports beat expectations in December, while imports also showed positive growth. Notable gains were seen in major stocks, including...